Tata Steel forms limestone JV in Oman

Tata Steel has entered into a joint venture (JV) agreement with Oman-based Al Bahja Group for the development of the Uyun limestone deposits at Salalah in the Sultanate of Oman.

According to an official release issued by Tata Steel to the BSE today, it will be holding 70% stake in the JV firm Al Rimal Mining, through its subsidiary TS Global Minerals Holdings. Al Rimal will execute the project of developing and operating the Uyun Mine.

B Muthuraman, MD, Tata Steel said: "Tata Steel is pleased to have signed this agreement. Tata Steel has nearly 100 years of extensive experience of exploration, modelling, designing and operation of both underground and open cast mines. Tata Steel will continue with its policy of introducing best practices for mining, as well as for management of the environment in the development of the Uyun Limestone Mine in Oman. We value our partnership with the Al Bahja Group, and we are sure that this partnership will play a significant role in the mineral development of the Sultanate of Oman. These investments in mining are the foundations towards achieving Tata Steel's vision of becoming a global benchmark in value creation, corporate social responsibility, environmental protection and safety through passionate, talented and motivated employees".

The initial phase will involve exploration and detailed feasibility studies. The project envisages mining of limestone in the Uyun region which lies in the Salalah province of Oman and has large deposits of limestone."